FRB: October 2007 Statistical Supplement--Prime Rate Charged by Banks, Short-Term Business Loans

Statistical Supplement | October 2007

Statistical Supplement to the Federal Reserve Bulletin, October 2007

1.33 Prime Rate Charged by Banks, Short-Term Business Loans¹

Percent per year

Average rate by month,
2004 | 2005 | 2006 | 2007

Date of change	Rate
2001--January 4	9.00
2001--February 1	8.50
2001--March 21	8.00
2001--April 19	7.50
2001--May 16	7.00
2001--June 28	6.75
2001--August 22	6.50
2001--September 18	6.00
2001--October 3	5.50
2001--November 7	5.00
2001--December 12	4.75

2002--November 7	4.25

2003--June 27	4.00

2004--June 30	4.25
2004--August 10	4.50
2004--September 21	4.75
2004--November 10	5.00
2004--December 14	5.25

2005--February 2	5.50
2005--March 22	5.75
2005--May 3	6.00
2005--June 30	6.25
2005--August 9	6.50
2005--September 20	6.75
2005--November 1	7.00
2005--December 13	7.25

2006--January 31	7.50
2006--March 28	7.75
2006--May 10	8.00
2006--June 29	8.25
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Year	Average rate
2003	4.12
2004	4.34
2005	6.19
2006	7.96
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2004	Average rate
January	4.00
February	4.00
March	4.00
April	4.00
May	4.00
June	4.01
July	4.25
August	4.43
September	4.58
October	4.75
November	4.93
December	5.15
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2005	Average rate
January	5.25
February	5.49
March	5.58
April	5.75
May	5.98
June	6.01
July	6.25
August	6.44
September	6.59
October	6.75
November	7.00
December	7.15
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2006	Average rate
January	7.26
February	7.50
March	7.53
April	7.75
May	7.93
June	8.02
July	8.25
August	8.25
September	8.25
October	8.25
November	8.25
December	8.25
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2007	Average rate
January	8.25
February	8.25
March	8.25
April	8.25
May	8.25
June	8.25
July	8.25
August	8.25
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1. The prime rate is one of several base rates that banks use to price short-term business loans. The table shows the date on which a new rate came to be the predominant one quoted by a majority of the twenty-five largest banks by asset size, based on the most recent Call Report. Data in this table also appear in the Board's H.15 (519) weekly statistical release. Return to table

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Last update: November 1, 2007